A Herald Leader headline reads: “Developer insists CentrePointe will be built despite death of key financier.”
Beverly Fortune reported earlier today, “A key financial backer of the planned CentrePointe development in Lexington died last fall, but the project’s California trustee says he is working with the financier’s heirs to get the $250 million deal back on track.”
The attorney’s letter to the Mayor and Council say the deceased backer’s identity must remain confidential.
But the attorney’s letter does indeed confirm the anonymous backer of unknown nationality is, in fact, dead, which the attorney characterizes as “complicat[ing] the implementation of the funding plan.”
Further “complicating” the “delays”: he died without a will.
Mayor Newberry’s response is that he’s “sorry to learn about the delay, but pleased that the developers and investors are still committed to the project. The investment of $250 million dollars in our community will be significant, especially as it relates to the hundreds of jobs that will be created and the tax revenue generated as a result.”
Page 4 of this week’s Ace features the Lexicon Project’s Ongoing “Dear Mayor” Letter Campaign — conceived to let the Mayor know what Readers think SHOULD occupy the current hole in the ground.
Readers can, as always, email [email protected] with suggestions, and respond here on the blog as well.
Ongoing coverage is, as always, available at http://twitter.com/aceweekly. The hashtag is #CPLex (no one can spell CentrePointe).